At a Glance
- Tasks: Join our team to develop and maintain innovative pricing tools for the insurance industry.
- Company: SCOR, a leading global reinsurer with a collaborative culture.
- Benefits: Competitive salary, diverse work environment, and opportunities for professional growth.
- Other info: Dynamic role with excellent career advancement opportunities in a supportive environment.
- Why this job: Make a real impact in the insurance sector while working with top industry professionals.
- Qualifications: FIA or FCAS qualified with experience in P&C insurance and strong analytical skills.
The predicted salary is between 58500 - 71500 £ per year.
The job holder will be a key member of the SBS & Cedant Facultative P&C Pricing and Modelling team supporting business written by SCOR, focusing on Property, Construction and Specialty lines of business. The work includes pricing of key individual accounts, working with Underwriters, developing and maintaining pricing models, conducting pricing related analyses and any other ad-hoc reporting requirements. The job holder will also represent SBS Pricing & Modelling Team in any ongoing and future global projects.
Responsibilities
- Develop, test, and maintain pricing tools.
- Develop and enhance direct & facultative pricing tools and methodology in conjunction with Underwriters, Underwriting Management, CTO and the Specialty Insurance Methods and Tools team.
- Ensure pricing models are appropriately calibrated and used appropriately by Underwriters, including rate change calculation.
- Maintenance of existing pricing tools including technical documentation / specifications / change parameter documentation (including impact analysis).
- Be a contributor to the long term objective of the Pricing Team by helping to implement a more innovative and data driven approach to their pricing processes with pricing model development on two web-based platforms: Underwriting Platform (UP) and Renew.
- Actively build relationships with Underwriters and assist in change management (including training) when onboarding Underwriters on to new pricing tools or platforms.
- Portfolio analysis, business planning, parameterisation and outwards RI pricing.
- Development and maintenance of dashboards and various management information.
- Monitor emerging trends in the market across allocated lines of business.
- Contribute to various regulatory tasks such as the Lloyd’s Performance Management Data Return (PMDR).
- Regular monitoring and feedback of Underwriter Adjustments, plus pricing strength (adequacy) against the long-term profitability targets.
- Any other ad-hoc reporting requirements.
- Provide actuarial consulting during exploration of new projects.
- Assist with on-going underwriting projects (developing pricing requirements, systems testing, etc.) or any other ad-hoc projects.
- Analyse and price individual accounts typically with complex features or high premium in UP or Xact.
- Conduct pricing reviews on accounts with high and extreme materiality to ensure that all accounts priced adhere to appropriate pricing review process as defined in SBS Pricing Guidelines and Cedant Facultative Pricing Guidelines.
Qualifications
- Experience FIA (or FCAS) with a couple of years of Pricing experience in P&C insurance required, with Lloyd’s / London Market experience preferred.
- Casualty experience preferred.
- Strong analytical skills and ability to manipulate or handle large datasets.
- Significant experience in using MS Excel in a pricing environment required, with VBA experience preferred.
- Experience using Python or any other programming languages for predictive modeling preferred.
- Highly motivated and driven individual with excellent analytical and problem-solving skills.
- Effective communication skills with excellent interpersonal verbal and written skills.
- Strong collaboration skills including across time zones and non-actuarial disciplines.
- Strong organisational and time management skills required.
- Self-starting individual and excellent team player.
Required Education
- FIA (Fellow of the Institute and Faculty of Actuaries) or FCAS (Fellow of the Casualty Actuarial Society).
- Degree in Mathematics, Actuarial Science or any other scientific discipline (Statistics, Physics, etc.) or equivalence.
Location
Level 6, London, United Kingdom, EC2N 4BQ, GB
Pricing Actuary - Specialty employer: SCOR
SCOR is an exceptional employer that fosters a collaborative and inclusive work culture, where employees engage with top industry professionals to tackle significant societal challenges. With a strong commitment to employee growth, SCOR offers innovative training opportunities and encourages the integration of data science and AI in its processes, ensuring that team members are at the forefront of the reinsurance industry. Located in the UK, SCOR provides a dynamic environment that values diversity and supports individuals with disabilities, making it a truly rewarding place to build a meaningful career.
